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AccountEdge Tips and Tricks Newsletter

Virtual Locations

The AccountEdge Inventory feature includes the ability to assign inventory items to any number of specific locations. To initialize the location feature, you need only indicate additional locations. One not-so-common use of the locations feature is to create a virtual location.

For manufacturers who build and inventory finished products from components in inventory, it's often necessary to indicate the components are allocated to finished products before the finished products are completely produced. The need to record this information is necessary because the allocated components are unavailable for other purposes, but the finished products are not yet available. The use of a virtual location, named something such as 'in-manufacture', resolves the dilema.

When inventory components are allocated for build or auto-build items, the components can be moved from the warehouse to the 'in-manufacture' location. When the finished products are built, you can record the finished products have been built from the components in 'in-manufacture', thus creating the finished products in that virtual location. Once finally built, the finished products can be moved from 'in-manufacture' to the warehouse, making them available for sale.

Canadian ROE

Canadian employers must give a Record of Employment (ROE) to employees who experience interrupted earnings. The ROE contains details of the employee's work history with the company, including insurable earnings and insurable hours. Alternatively, employers can file an electronic copy of the ROE with Service Canada. In either case, employers must keep records for up to six years after the interrupted earnings begin. In AccountEdge Pro, you have the ability to create electronic ROEs for upload to the Service Canada web site. Additionally, you can create a copy of the filing and attach it to the employee's record using the Attach Documents feature. As a result, AccountEdge Pro helps you easily comply with the requirements when addressing employees with interrupted earnings.

Details about the Record of Employment and its generation and handling are available on the Records of Employment FAQ.

Business Insights

Business Insights is a little discussed, though incredibly powerful tool in AccountEdge Pro that might be the best friend you never knew you had.

Introduced in AccountEdge 2009 for Mac (only), Business Insights doesn't require any special tweaking, data entry, set up or configuration, but it provides information on the health of your business in real time. It's presented graphically as a series of ratios over time that allows you to monitor how your business is doing based on familiar business metrics, such as Gross Profit, Operating Profit, Net Profit to Sales and more. You can compare two fiscal years (this year vs. last year, or this year vs. next year) and view a series of trend graphs and changes month to month within the 24 or 26 months being compared.

Using trends can help you spot seasonal issues, cash flow problems, inventory situations and manage your business from the top down, rather than from viewing reports based on specific transactions. For additional information and details about the ratios used, look under the Help menu in AccountEdge Pro in the Manuals section and read our Business Insights 101 document.

Did You Know?

Acclivity is proud to work with a full range of Partners in your community who can help you on-site or via the web. For those times when calling or emailing tech support just isn't the same as having a live person in your office, on your computers, with your people, and your source documents. Or maybe you need accounting or tax or computer or networking help - the kinds of things our tech support reps are not able to provide over the phone or via email. If you want to begin a relationship with a local Certified Consultant, bookkeeper, or accountant, visit our Community Locator.

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Hopefully the information we provide in our AccountEdge Tips and Tricks Newsletter is helpful and useful to you. Each month we present articles that are timely, interesting and informative, to help you use AccountEdge more effectively. Be sure to check the FAQ links included in the newsletter to view more in-depth information about the topics covered. This newsletter will not be used as a sales tool. We invite you to send us your thoughts.

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Editors Note: We've changed the timing of our "Tips and Tricks Newsletter", now look for it early in the month.

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